Machinery Breakdown Insurance
If your business depends on machinery and equipment operating efficiently, you need to be protected in the event an unexpected breakdown occurs.The expenses involved in a mechanical or electrical breakdown of this equipment can be excessive, and in most cases won’t be covered in other general insurance policies. Most people mistakenly believe the breakdown of their machinery is covered by their commercial property and business interruption insurance policies. It simply isn’t the case.
The financial damage of your equipment breaking down can be significant to the running of your whole business. The possible costs to your business include:
Repair or replacement costs
|Deterioration of stock||Frozen or chilled stock can be destroyed in the event of refrigeration equipment failure.|
|Loss of revenue/profits||Revenue can be reduced or stopped altogether, but ongoing fixed costs obligations such as wages and lease repayments still need to be met.|
|Additional costs||Replacement equipment or machinery may need to be hired or some production outsourced whilst your own equipment is being repaired or replaced.|
Whether you have an air-conditioning plant, refrigeration equipment, coolrooms, manufacturing plant or any other machinery, we will take the time to understand your equipment breakdown exposures. By using only reputable insurers, we’ll provide suitable insurance protection options with the best quality policies on the market.
Why not find out more today about Machinery and Equipment Breakdown Insurance?